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Medical Marijuana Inc (OTCMKTS:MJNA) Moving Up The Charts

Medical Marijuana Inc (OTCMKTS:MJNA) Moving Up The Charts
Written by
Alex Carlson
Published on
May 6, 2016
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We told our readers and subscribers back in March that Medical Marijuana Inc (OTCMKTS:MJNA) was bound to break out and catch up to other fast moving pot stocks. After consolidating for all of April, shares of MJNA have exploded higher this month as the marijuana sector embarks on another Green Rush. For MJNA though, it's the company's progress in Mexico and Brazil that is getting investors excited.The latest news from MJNA is that the Brazilian government has approved its hemp cannabidiol (CBD) oil product Real Scientific Hemp Oil (RSHO) from HempMeds Brasil for a fourth indication for import as a prescription medication for the treatment of cancer. The first three indications approved for HempMeds Brasil to import are: epilepsy, Parkinson's disease and chronic pain.The company had the first-ever cannabis product allowed for import into Brazil and its products are currently subsidized by the Brazilian government, under their health care system, for all three medical indications listed above. HempMeds Brasil says that it is working on additional approvals for multiple indications.Residents of Brazil who have a government-recognized medical indication and want access to RSHO hemp oil products may do so with a doctor's prescription and approved import documentation from ANVISA. The government agency issued a statement on its website and also explains how to apply for an import certificate.

While cannabis remains illegal in Brazil and hemp not legal to grow, a landmark decision by a Federal Judge in 2014 approved the import of MJNA's CBD hemp oil product, RSHO, for a Brazilian child, Anny Fischer, deeming it "inhumane" to keep it from her. Afterward, the Brazilian government expanded its approval to include any individual with a medical recommendation and authorization to import under the indication of Refractory Epilepsy.

The program has gone so well, that ANVISA then authorized two additional indications: Parkinson's disease, and chronic pain, including migraine headache. The Brazilian government is now waiving import taxes, subsidizing the cost of RSHO, and covering the product under health insurance. With more than 248 million residents, Brazil represents the 7th largest economy in the world and is providing a blueprint for success when it comes to cannabis law reform.Earlier this year, in February, Mexico's government's health agency COFEPRIS issued the nation's first permits to individuals to access CBD hemp oil. In the press release issued by COFEPRIS, MJNA's CBD hemp oil product, RSHO-X, was specified. These permits open the door for any of Mexico's 120 million residents wishing to access RSHO-X to do so with a doctor's prescription and an import permit from COFEPRIS. HempMeds Mexico took place in all of the country's public debates on medical marijuana law reform.Last month, in an April 22 article entitled Mexican President Reverses Course, Now Supports Medicinal Marijuana, CNSNews.com reported that the Company's Real Scientific Hemp Oil-X (RSHO-X) product is the first-ever cannabis product (high concentration natural botanical hemp-based cannabidiol (CBD) without THC) approved by federal authorities for import into Mexico, into what projects to be a "$10-12 billion" future cannabis market.According to the CNSNews.com report, "The U.S. company Medical Marijuana Inc. received permission from Mexican authorities on Feb. 1 to export to Mexico one of its products used to treat epilepsy in children. The product doesn't contain the psychoactive ingredient THC, according to the company's CEO, Stuart Titus."As first reported by Mexico's health agency COFEPRIS and Reuters News Agency, families in Mexico are now able to import HempMeds THC-free CBD hemp oil (RSHO-X) with a government-issued permit. The decision by COFEPRIS and the historic April 21 speech from Mexico's President Enrique Peña Nieto came after Medical Marijuana, Inc.'s HempMeds sponsored and participated with Raul Elizalde and the Por Grace Foundation in multiple public forums including the National Debates on Marijuana Use advocating for medical cannabis access in Mexico.Shares of MJNA have rocketed up the charts on massive volume and this is a very positive sign. We think this is the beginning of the end for the shorts in MJNA. We believe this is just the start of a new bull run for Medical Marijuana Inc. We will be updating Insider Financial as soon as we know more. For continuing coverage on MJNA, sign up for our free newsletter today and get our next hot stock pick!Disclosure: We have no position in MJNA and have not been compensated for this article.

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